Canada Education Savings Regulations
6 (1) The Minister may pay a CLB if
(a) the trustee enters into a trustee agreement with the Minister that applies to the RESP and includes the terms and conditions set out in section 8;
(b) the application for the CLB is made by the trustee, at the request of a subscriber under the RESP;
(c) the RESP complies at the time of the CLB payment with the conditions for registration set out in subsection 146.1(2) of the Income Tax Act that apply in respect of education savings plans entered into on January 1, 1999;
(d) the RESP has only one beneficiary or, if there is more than one, every beneficiary is a brother or sister of every other beneficiary;
(e) the RESP has a CLB account for each beneficiary in respect of whom a CLB is paid; and
(f) in the opinion of the Minister, the trustee complies with the terms and conditions of these Regulations and the trustee agreement that applies to the RESP.
(2) At the time a CLB is paid to an RESP, the trustee shall credit the beneficiary’s CLB account within the RESP with the amount of the CLB paid.
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